Italy

Falck puts 49% of assets up for sale

ITALY: Italy's Falck Renewables said it is seeking partners to acquire up to 49% in its operational renewable energy assets.

Falck's Boyndie 2 wind farm in Scotland

Additionally, Falck wants to co-develop future projects, as it pointed to banks' reduced willingness to finance projects, pressure on energy prices and a negative outlook for incentives.

The renewable energy group said it would begin by looking for an investor to acquire a minority stake in its 273MW UK wind assets. It has hired investment bank Rothschild to provide a valuation of assets on the sales block, which it expects to be completed early next year.

Falck now has installed wind capacity of 655.3MW, the lion's share of its total 716.4MW capacity.

According to a new 2013-2017 business plan presented today, the company plans to increasewind capacity to 770MW by 2017 as it pushes forward only with projects already under constructionor authorised.

Falck said additional wind energy investments will be concentrated in areas with attractive renewable resources, such as the UK, and in countries with expanding renewable energy portfolios.

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